Some manufacturers are hunkering down, others are marching on and a few are moving out of their comfort zones. This mixed pattern is likely to stretch through the middle part of this year, when the fog of uncertainty is expected to lift. In the interim, many manufacturers appear to be stalled.
“There is a bit of disconnect between manufacturing in 2012 and 2013," said Adolfo Laurenti, deputy chief economist at Mesirow Financial. He explained that the past year’s momentum largely has hit a wall.
Manufacturers worry that expiring tax cuts, the possibility of tax hikes and government spending cuts could push the U.S. into another recession. Manufacturers that export also are dealing with Europe’s economic crisis and the slowdown of emerging economies, such as China and Brazil.
“Overall, the entire global economy is still weak," Laurenti said. “We don’t have one growth engine."
— From wire reports